This Week's Chicago Deal Sheet: Advocate Health Care Plans To Invest $1B In South Side, Quantum Campus
Advocate Health Care announced plans to invest $1B over the next 10 years in a new hospital, 10 outpatient locations and other initiatives across the South Side.
The hospital will be on the former U.S. Steel South Works site where a quantum campus is taking shape near the lakefront. It replaces the current Advocate Trinity Hospital with a $300M new development. The 53-bed hospital will be on 23 acres on the northern end of the developer Related Midwest's 8080 S. DuSable Lake Shore Drive master plan.
“The addition of a state-of-the-art Advocate hospital marks a significant milestone for the Southeast Side— one that will not only deliver essential healthcare services, but also advances our vision of creating a powerful, multifaceted economic engine for the area," said Curt Bailey, president of Related Midwest, in a press release.
The hospital will bring additional jobs to South Chicago while expanding access to primary and specialty care.
PEOPLE
JLL Capital Markets added Brian Page to the firm as a director in its retail investment sales team. With eight years of experience in the field, Page will partner with Michael Nieder to continue to grow the firm’s open-air shopping center investment sales and advisory business in the Midwest.
SALES
MDH Partners acquired the Minooka Interstate Logistics Portfolio in Minooka. The portfolio is 2.2M SF across three Class-A industrial facilities and is fully leased to BMW, Kellanova and WK Kellogg. Houston Hawley at MDH Partners sourced the deal. Cushman & Wakefield's Adam Tyler, Jim Carpenter and Mike Tenteris represented the seller.
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Bridge Industrial acquired two sites in Summit and Bedford Park. Construction on both industrial development projects is slated to begin in the first quarter of 2025, with project delivery anticipated in Q1 2026.
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A private investor purchased 5 N. Root St., a retail strip property in Aurora, for about $3.4M from another private investor. Marcus & Millichap’s Coult Greenwell and Mitchell Kiven represented both parties in the deal.
LEASES
Art Vidar Cabinetry completed a 23K SF lease at 2050 S. Mount Prospect Road, Unit F, in Des Plaines. This brings the industrial building to 100% occupancy. Lee & Associates' Chris Nelson and Calvin Gunn represented the landlord, Mapletree Investments, while JD Partners' John Pikarski represented the tenant.
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KeHE Distributors committed to a long-term lease at Naperville Corporate Center at 1230-1250 Diehl Road in Naperville. The wholesale food distributor’s lease now totals 91K SF after an expansion of 17K SF. Building owner Real Capital Solutions was represented by Transwestern's Joe Stevens and Steve Degodny.
CONSTRUCTION AND DEVELOPMENT
Skender completed interior construction on a 35K SF headquarters for SCB. The architectural firm relocated from 625 N. Michigan Ave. to the AMA Plaza building at 330 N. Wabash Ave. The new 25th-floor workspace features a mix of open office, high-end conference rooms, diverse collaboration spaces, a café, a library and private executive offices.
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Urban Innovations completed an office build-out for Metropolitan Peace Initiatives at 2100 S. Morgan Street in Pilsen. The new space houses private and open offices, training rooms, meditation rooms and a kitchen for the Metropolitan Peace Academy, which provides counseling, training, mediation and other services to help prevent street violence in the city.
